Real estate acquisition tax in property exchange

Hello everyone,

Is real estate transfer tax incurred in a land exchange and if so: What is the assessment basis?!

Thanks!

Yes, 2x the current market value of the properties

(5) In the case of an exchange contract that establishes for both parties the claim to the transfer of ownership of a property, the tax applies to both the agreement concerning the performance of one party and the agreement concerning the performance of the other party.